Dollar steadies, euro nears four-week low after ECB’s announcement

The dollar steadied on Friday, while the euro sat near its four-week low on the greenback after the European Central Bank hinted at additional monetary easing by the end of the year.

The euro’s fall overnight boosted the dollar index to a near four-week high. The ECB kept rates steady on Thursday but said that further easing will be discussed in its December meeting. 

The euro firmed to $1.1679 in Asian trade following a four-week low of $1.1650 hit overnight. It slid to 121.79 against the yen.

U.S. data showed that the country’s economy grew at a record pace in the third quarter. Unemployment claims also improved but the economic impact of the coronavirus lingered.

The dollar index stood at 93.889, slightly below a four-week high of 93.916 hit on Thursday. Still, uncertainty about the result of the upcoming U.S. presidential election unnerved investors.

Global daily coronavirus cases surpassed 500,000 for the first time as France and Germany renewed lockdowns.

The dollar fell to 104.30 against the Japanese yen. The pound traded at $1.2906 amid a lack of progress in the Britain-EU Brexit trade talks.

The Aussie sat at $0.7032, while the kiwi steadied at $0.6619.